Generally the only option the person who wants to sell their share of the property has is to file a partition of property lawsuit. Depending upon the state laws and the number of owners, a lawsuit can be a complicated, lengthy, and costly process and is best handled by a qualified attorney.
If your name is on the deed as a grantee, then you have an ownership interest in the property. It may be tenant-in-common or joint tenant (with right of survivorship). In either case, you have an "undivided" co-ownership of the property.
Yes. However, they would need to find a buyer who is willing to share the use and possession of the property with the other tenant. If you sold your interest, the owners would become tenants in common.
Yes. You can leave your interest as a tenant in common in your will.Yes. You can leave your interest as a tenant in common in your will.Yes. You can leave your interest as a tenant in common in your will.Yes. You can leave your interest as a tenant in common in your will.
Yes, that's the common obligation. Similarly, a landlord has to maintain a property in a habitable state and (roughly) in the condition it was in when the tenant moved in.
youy cant evict them until they die look up news a landlord recently killed a siting tenant
If you have an undivided interest in property you cannot be forced to sell by the co-owners. Only a court can force a sale. Your parents would need to petition the court to partition the property. The court would divide the property if possible. If not possible then the property would be sold and the proceeds, after legal costs, would be divided amongst the co-tenants. A partition proceeding can be costly. However, your parents could sell their interest in the property to a third party who would then become your co-tenant in common.
No. The tenant must make a will.
Yes. You are free to sell you interest to any willing buyer.
If you want the property to pass to the co-owner automatically if one owner dies then you should take title as joint tenants with the right of survivorship.a) Joint Tenants, with rights of survivorship (the title automatically passes to the survivor if one dies per above). Joint tenants do have a right of survivorship, but a joint tenant may sell or give away her interest in the property. If a joint tenant sells her interest in a joint tenancy, the tenancy becomes a tenancy in common, and no tenant has a right of survivorshipb) Tenants in Common: All tenants in common hold an individual, undivided ownership interest in the property. This means that each party has the right to alienate, or transfer the ownership of, his/her ownership interest. Tenants in common do not have a right of survivorship. In a tenancy in common, persons may sell or give away their ownership interest.
No. A tenant has no ownership interest in the property and so the property is not available to their creditors.No. A tenant has no ownership interest in the property and so the property is not available to their creditors.No. A tenant has no ownership interest in the property and so the property is not available to their creditors.No. A tenant has no ownership interest in the property and so the property is not available to their creditors.
No. The life tenant has the right to the use and possession of the property for life.No. The life tenant has the right to the use and possession of the property for life.No. The life tenant has the right to the use and possession of the property for life.No. The life tenant has the right to the use and possession of the property for life.
If property is not yet paid off, the living tenant must keep up with the mortgage payments or forfeit the dwelling to the next of kin.